26 02 2016

CICC is acting on the privatization of Dongpeng Dongpeng Holdings

Slaughter and May is advising China International Capital Corporation Hong Kong Securities Limited (CICC) in its capacity as financial adviser and as lender of a certain funds facility in relation to the privatisation offer by Profit Strong Investments Limited and Max Glory Limited for Dongpeng Holdings Company Limited to be implemented by way of a pre-conditional scheme of arrangement


Subject to the satisfaction of the pre-condition, the maximum consideration payable by the joint offerors under the Scheme will be HK$1,509,904,620.00 (approximately US$194m). The pre-condition is that Sequoia RMB SP Fund obtains the relevant overseas investment approvals in the PRC in respect of its investment through the Scheme. It must be fulfilled within 180 days of 18 February 2016 or the proposal for the privatisation of Dongpeng will not be made. Dongpeng is a Cayman-incorporated company listed on the Hong Kong Stock Exchange which is principally engaged in the design, development, production, marketing and sale of a wide variety of ceramic tile products and bathroom products. Profit Strong Investments Limited is a BVI-incorporated investment holding company which is wholly owned by Mr. He Xinming. Max Glory Limited is incorporated in the Cayman Islands and is effectively controlled by Sequoia RMB SP Fund. Slaughter and May is advising China International Capital Corporation Hong Kong Securities with a Corporate team led by Neil Hyman (partner, in picture) and Peter Brien (partner), assisted by Frank Bi (associate), Rahul Mehta (associate) and Lauren Pringle (trainee). Involved fees earner: Neil Hyman - Slaughter and May; Peter Brien - Slaughter and May; Frank Bi - Slaughter and May; Rahul Mehta - Slaughter and May; Lauren Pringle - Slaughter and May;

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